Business
Share Buyback Programme
Share Buyback Programme.
About this update from Plus500 Ltd.
[{"type":"text","content":"\n \n \n \n 28 February 2023\n \n \n \n \n \n \n \n \n \n Plus500 Ltd.\n \n \n \n \n \n \n \n \n \n (\"Plus500\", the \"Company\", or together with its subsidiaries, the \"Group\")\n \n \n \n \n \n \n \n \n \n Share Buyback Programme\n \n \n \n \n \n \n Plus500, a global multi‐asset fintech group operating proprietary technology‐based trading platforms, is pleased to announce that it will today commence a new share buyback programme to purchase a total of up to $70.0 million of the Company's shares (\"Share Buyback Programme\"), as previously announced on 14 February 2023, as part of the Company's FY 2022 preliminary results. T\n he\n Share Buyback Programme is comprised of a final share buyback programme of $42.4 million and a special share buyback programme of $27.6 million.\n \n \n \n \n \n Launch of the Share Buyback Programme follows the completion of the Company's most recent share buyback programme of $60.2 million, which was announced on 17 August 2022, and commenced on 1 November 2022. The Company also completed during the course of FY 2022 a special buyback programme of $50.0 million, announced on 13 April 2022.\n \n \n \n \n \n The purpose of this Share Buyback Programme is to further highlight the Board's continued confidence in the future prospects of Plus500 and reflects its strong financial position\n . This confidence is supported by the significant operational and financial momentum achieved by Plus500 over recent years, as the Group continues to make further progress on its strategic roadmap.\n \n \n \n \n \n The maximum number of shares that may be repurchased under the Share Buyback Programme is up to 9,959,828 shares, being the number of shares the Company is currently authorised to purchase pursuant to the authority granted by shareholders at the Company's 2022 Annual General Meeting held on 3 May 2022 (\"AGM\") of which 6,971,719 shares have been purchased as of 27 February 2023 (excluding those shares purchased on the day of the AGM). The Board intends to seek shareholder approval at the Company's 2023 Annual General Meeting to renew the Company's share buyback authorisation for an additional year.\n \n \n \n \n \n Share purchases will take place in open market transactions and may be made from time to time depending on market conditions, share price, tradin...